The Current Tax Payment Act changed employer remittance of taxes by:
A) Requiring employers to remit taxes at speciﬁc times during the year.
B) Legislating the amounts of tax withheld from each employee.
C) Instituting the mandatory transfer of payroll tax liabilities.
D) Calling for employers to remit only the current portions of taxes due.

Question

Quizplus · Accepted Answer

The Current Tax Payment Act required employers to remit taxes at specific times during the year, rather than waiting until the end of the year to pay all taxes owed. This helped to ensure a more consistent flow of revenue to the government and reduce the likelihood of employers falling behind on their tax payments. The act did not legislate the amounts of tax withheld from each employee, institute mandatory transfer of payroll tax liabilities, or call for employers to remit only current portions of taxes due.

The Current Tax Payment Act Changed Employer Remittance of Taxes